How much money do I have to give my boyfriend with sale of our house

My boyfriend and I purchased a home together. However, I put $100,000 down on the home as a down payment.We just acceptd an offer on the home. The total profit is $30,000. Do I owe him any of the profit?

Asked on June 12, 2009 under Real Estate Law, Massachusetts

Answers:

M.T.G., Member, New York Bar / FreeAdvice Contributing Attorney

Answered 11 years ago | Contributor

The information you gave needs additional clarification.  Let's say you bought the house for $300,000.00   You put $100,000.00 down and can prove that it was your alone.  You are now selling the property for $330,000.00.  The mortgage of $200,000.00 and the $100,000.00 down payment is taken off the top leaving $30,000.00 profit.  If you and your boyfriend both lived in the house and your boyfriend contributed to the value of the house during the time you owned it - which could be anything from painting and maintaining, etc. - then I would think that he is entitled to half of the profit absent an agreement to the contrary. 


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